Air Peace has debunked reports claiming that the company, its Chairman, Allen Onyema, and Vice Chairman, Mrs. Alice Ojochide Onyema, are being sued by the Lagos State Government over tax evasion. In a statement released on Monday, March 23, Air Peace said neither the Onyemas nor the company has been served with any court summons …
The Dangote Petroleum Refinery has reached a major export milestone, shipping 456,000 tonnes of refined petroleum products to five African countries. This development follows the achievement of full production capacity of 650,000 barrels per day (bpd) in February by the refinery. Twelve cargoes of petroleum products were delivered to Côte d’Ivoire, Cameroon, Tanzania, Ghana, and …
Dangote Refinery has again raised its ex-depot price of fuel as crude oil surges above $110 per barrel in the international market. The continuous increase in prices signals more pressure in Nigeria’s fuel market. The 650,000 barrels per day refinery announced an increase in its ex-depot price of Premium Motor Spirit (PMS), also known as …
The ongoing escalation of the crisis in the Middle East, specifically the conflict involving the U.S., Israel, and Iran, has pushed Brent crude prices above $100 per barrel. While this exceeds Nigeria’s budget benchmark of $64.85 per barrel, several structural and economic factors suggest the country may not fully reap the rewards of this surge. …
As the crescent moon ushered in the 2026 Eid-el-Fitr celebration on Friday, March 20, millions of Nigerian Muslims gathered at prayer grounds across the country, but behind the vibrant displays of traditional Baban riga and Iro ati Buba, a sobering reality shadowed the festivities. There is a sharp resurgence in food prices that has left …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is conducting an investigation into the gas bubbling incident within the OML 18 area in Bille Community, Rivers State. It urged residents to remain calm and await the outcome of the findings. The Commission empathised with the community and acknowledged the concerns that the unfortunate development …
Major Energies Marketers Association of Nigeria (MEMAN) has highlighted a framework for ensuring fair pricing and a steady supply of fuel. The association’s recommendation focuses on maintaining a balance between local production and strategic imports, all underpinned by strong regulation and market-driven competition. Speaking at a quarterly webinar organised by MEMAN, the association’s Executive Secretary/CEO, …
Nigeria has secured a £746 million financing agreement with the United Kingdom to fund the modernisation of the Apapa and Tin Can Island Ports in Lagos. The deal is set to be formally signed during President Bola Tinubu's state visit to London on March 18-19, 2026. This was made known on Tuesday in a statement …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the completion of the pre-qualification stage of the 2025 Licensing Round and shortlisted bidders for the 50 oil blocks offered by the Commission. It said it has notified successful pre-qualified applicants. NUPRC made this known in a statement released on Tuesday, March 17, signed by the …
Oil prices have further surged as the ongoing conflict in the Middle East continues to disrupt supply chains, particularly through the Strait of Hormuz. After a brief dip on Monday, March 16, prices rebounded sharply on Tuesday, March 17, as attacks ravaged parts of the Gulf region, raising more fears of supply disruption. According to …
